Fib extension drawn from Fib ext A (start month low local low) to Fib ext B (high) to Fib ext C (low of the range).
Formation is a decending wedge - obvious rejection 0.382.
Only drawn 2 low Naked Daily PoCs (Naked Point of controls). Depicted, looking at a rejection fromm he wedge to loweest NPOC. Looking higher, elevated higher highs that could be putting in with the low nPocs acting as support.
The external Fib is based of a Fib extension from the previous consolidation range, Zoom out to see how I got this.
Formation is a decending wedge - obvious rejection 0.382.
Only drawn 2 low Naked Daily PoCs (Naked Point of controls). Depicted, looking at a rejection fromm he wedge to loweest NPOC. Looking higher, elevated higher highs that could be putting in with the low nPocs acting as support.
The external Fib is based of a Fib extension from the previous consolidation range, Zoom out to see how I got this.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.